fastrack watches marketing-project-report

History of wristwatchToday, a wristwatch is considered as much of a status symbol as a device to tell time. In an age

when cell phones and digital pagers display tiny quartz clocks, the mechanical wristwatch has

slowly become less of an object of function and more a piece of modern culture.

Walk into the boardroom of any Fortune 500 company and you’re likely to see dozens of

prestigious wristwatches, including such names as Rolex, Vacheron Constantine, Frank Muller,

Jaeger-LeCoultre and even Patek Philippe. However, this was not always the case. Less than 100

years ago, no self-respecting gentleman would be caught dead wearing a wristwatch. In those

days of yore, real men carried pocket watches, with a gold half-hunter being the preferred status

symbol of the time—no pun intended.

Wristlets, as they were called, were reserved for women, and considered more of a passing fad

than a serious timepiece. In fact, they were held in such disdain that many a gentlemen were

actually quoted to say they “would sooner wear a skirt as wear a wristwatch”.

The established watch making community looked down on them as well. Because of their size,

few believed wristlets could not be made to achieve any level of accuracy, nor could they

withstand the basic rigors of human activity. Therefore, very few companies produced them in

quantity, with the vast majority of those being small ladies’ models, with delicate fixed wire or

chain-link bracelets.

This all started to change in the nineteenth century, when soldiers discovered their usefulness

during wartime situations. Pocket watches were clumsy to carry and thus difficult to operate

while in combat. Therefore, soldiers fitted them into primitive “cupped” leather straps so they

could be worn on the wrist, thereby freeing up their hands during battle. It is believed that

Girard-Perregaux equipped the German Imperial Naval with similar pieces as early as the

1880s,which they ore on their wrists while synchronizing naval attacks, and firing artillery.

In 1906, the evolution of wristlets took an even bigger step with the invention of the expandable

flexible bracelet, as well as the introduction of wire loops (or lugs) soldered onto small, open-

faced pocket watch cases, allowing leather straps to be more easily attached. This aided their

adaptation for military use and thus marked a turning point in the development of wristwatches

for men.

Another timely issue was the vulnerability of the glass crystal when worn during combat. This

was addressed by utilizing “pierced metal covers”, frequently called shrapnel guards. These were

basically metal grills (often made of silver), placed over the dial of the watch—thereby

protecting the glass from damage while still allowing the time to be easily read.

A less common solution was the use of leather covers, snapped into place over the watch. While

they did offer protection from damage, they were cumbersome to use, and thus were primarily

seen in the extreme climates of Australia and Africa

Over the next decade, watch companies slowly added additional models to their catalogs, and

finally, by the mid-1930s, they accounted for 65 percent of all watches exported by Switzerland.

It was an uphill battle, but the wristwatch had finally arrived. They were now accurate,

waterproof and, by 1931, perpetually self-winding, when Rolex introduced the Auto Rotor, a

revolutionary design, which is used to this day by watch companies around the world.

The success of the wristwatch was born out of necessity, and Rolex continued this tradition by

introducing a series of Professional, or “tool watches” in the early 1950s. These models,

including the Submariner, Explorer, GMT-Master, Turn-O-Graph, and Milgauss were also

designed out of necessity, as they included features and attributes that were essential for a

specific task or profession.

Because of its rugged design, variations of the Submariner have subsequently been issued to

numerous militaries, including the British Royal Navy, Royal Canadian Navy and British Royal

Marines, as well as the U.S. Navy Seals. Over the years, dozens of companies like Omega,

Benrus and Panerai have also supplied specialty watch models for military duty.

.With the general public now leaning toward high-tech, digital gadgets, the classic mechanical

wristwatch was came to the market.

Profile of the company

TATA started in 1868 by Jamshetji Musser Wangi in textile industry. Due to the industrial

revolution TATA diversified its field one of the fields is to the watch sector, named as TITAN.

TITAN entered into the watch sector in 1986-87.They concentrated only on Quartz watches.

Titan penetrated the market from mechanical type to quartz, Imported to indian,TITAN is

banded by common culture and vision is TATAsTrust,reliability,value of money, highly

quality,fair dealings, highly ethical, professional management.

Kinds of watches available in Titan

Analog

Digital

Distribution channels:

1993-94 New retailing network initiated by TITAN using exclusive show room to see in

products.

Service network:

31 Service stations run by the company, 268 services authorized stations, spare parts

Setup in Bangalore .Decentralized of repair activities through training of dealers and

appointment of authorized parts distributors. It operates in Bombay, Chennai, Calcutta and Delhi.

Achievements in customer service network:

94% of watches return in 7 days, spares are processed with in 48 hours,

Introduction to the study

Marketing has assumed much in present day business world. The success of failure

Of any organization profit making or non-profit making depends on the

Marketing. Marketing has special significance in the modem management of

Business concept. In the words of peter F Drucker,"Marketing is the

Distinguishing and unique function of the business”

Business decisions should be “Marketing or customer oriented rather than

Product oriented gearing operations primarily to the office satisfaction of

Customer wants and needs. What marketing creates is a permanent existence of

The entity of customers”, the substance of particular group of customer or the

Different group of customers for a company products reduces its business risk and

Expands its planning horizon. It serves the business and the business turn serves

The market, through planning research and developing. An activity of any type of Business un

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE

1) To study the attitude and satisfaction among the consumers for Titan fastback watches, at

SRM University (Kattankulathur campus).

SECONDARY OBJECTIVE

1) To study and analyze various factors influence the consumers to purchase the fastrack

watches.

2) To analyze the factors influencing perception and buying decision of consumers.

3) To find out the effectiveness of advertisements for fastrack watches.

SCOPE OF THE STUDY

The study attempts to identify the reach of Titan fastrack watches which would help the

company in formulating suitable strategies. The study also identifies the attitudes and preference

of the consumers. The study also focused on Media through which the product reaches the

consumers.

LIMITATIONS OF THE STUDY

1. The geographical scope of the study is limited to SRM University kattankulathur campus

alone.

2. The sample size is confined to 50.

3. The consumer’s attitude may change in future due to change in their standard of living.

4. The Respondents were sometimes unable to spend much time for filling up the, questionnaire.

So, the chances for bias in the respondents answer were on the higher side.

RESEARCH METHODOLOGY

RESEARCH DESIGN

The Research Design adopted in the study was descriptive in nature because the study aims at

describing the situation as it exists at present. It shows the consumers satisfaction for fastrack

watches.

SAMPLE SIZE

The Sample Size of this study is 50.

POPULATION

The Population of this study is indefinite

SAMPLING METHOD

The study involves area sampling method. Area sampling method involves selecting a

probability sample of geographic areas and selecting units or individuals within the selected

areas for the sample

SOURCES OF DATA

The Study used both Primary and Secondary data.

PRIMARY DATA:

The primary data was collected from the respondents using questionnaire.

SECONDARY DATA:

The Secondary data was collected from the company’s official website.

METHODS OF DATA COLLECTION

Data was collected from the customers with the help of a questionnaire.

DATA ANALYSIS METHODThe Data was collected from the main study and was analyzed using

Based on the results conclusion were drawn and suggestions were made.

No of users of Fastrack watches (Sample Size-50)

TABLE – 1

TABLE SHOWING THE USERS OF FASTRACK

S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE

1. YES 17 34%

2. NO 33 66%

TOTAL 50 100%

using o

f fastr

ack

not usin

g of fa

strack

0

5

10

15

20

25

30

35

no of person using fas-track

INTERPRETATION :

It is inferred that from the sample of 50, at SRM University, 34% are the users of fastrack and

66% are not using fastrack watches.

Influencer for purchase

TABLE – 3

TABLE SHOWING THE INFLUENCER FOR THE PURCHASE OF FASTRACK


1. Friends 2 12%

2. Advertisement 15 88%

3. Family 0 0

TOTAL 100%

INTERPRETATION: It is understood that, majority of the respondents i.e., 88% of them were influenced

by the advertisements appearing in media and 12% of the respondents purchased fastrack watches

when refereed by their friends.

friends family adversitement0

2

4

6

8

10

12

14

16

influence for purchaseColumn1Column2

TABLE – 4

TABLE SHOWING THE PREFERRED ATTRIBUTE OF FASTRACK


1. Design 4 23%

2. Use friendly 2 12%

3. Brand 11 65%

TOTAL 100%

Most preferred attribute

designuser friendlybrand

INTERPRETATION:

It is understood that, majority of the respondents i.e., 65% of the respondents preferred fastrack

watches due to its brand image and next majority, i.e. 23% of the respondents preferred it due to its

design.

Gender of the users:

TABLE – 2

TABLE SHOWING THE USERS ON THE BASIS OF GENDER

S.NO PARTICULARS NO. OF USERS PERCENTAGE

1. Male 9 53%

2. Female 8 47%

TOTAL 17 100%

male female7.4

7.6

7.8

8

8.2

8.4

8.6

8.8

9

9.2

INTERPRETATION : It is inferred that 53% of the users are male and 47% of the users are female. Hence

the male users are more than female users.

TABLE – 6

TABLE SHOWING THE SATISFACATION LEVEL OF FASTRACK

S.NO ATTRIBUTES Brand PERCENTAGE

1. Highly satisfied 7 41%

2. Satisfied 8 47%

3. Dissatisfied 2 12%

TOTAL 17 100%

S.NO ATTRIBUTES Price PERCENTAGE


2. Satisfied 11 65 %


TOTAL 17 100%

S.NO ATTRIBUTES Variety PERCENTAGE


2. Satisfied 6 35 %


TOTAL 17 100%

highly satisfied satisfied dissatisfied0

2

4

6

8

10

12

14

Interpretation:

It is understood that the users of fastrack watches are quite satisfied with the brand image of fastrack

and with its pricing strategies, but dissatisfied with the varieties.

RANK DESIGN USER FRIENDLY BRAND

3 9 8 112 4 7 21 4 2 4

TOOL OF ANALYSIS: Weighted Average

X=€ wx /€ w

REASON WEIGHTED AVERAGE RANK

DESIGN 39/6=6.5 3

USER 40/6=6.6 2

BRAND 41/6=6.8 1

SUGGESTIONS

TV advertisements can be renewed explaining the product feature and aggressive

marketing will help the company.

Awareness of the product is less among the people. So, the company may take several

steps to create such awareness regarding its values to the customers.

The company can adopt new strategies and policies to overcome the competition.

CONCLUSION

Gaining and maintaining consumer preference is a battle that is never really won.

Continued and consistent branding initiatives that reinforce the consumer’s purchase decision

will, over time, land the product in consumer preference sets. Attaining and sustaining preference

is an important step on the road to gaining brand loyalty

Most of the consumers prefer Fastrack watches in SRM University campus, due to its strong

brand image, and the main factor forcing the customers to buy fastrack watch is advertisements

through the print and electronic media.

fastrack watches marketing-project-report

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